Energy

Oil output policy in focus as omicron rattles markets

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The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria.

Ramzi Boudina | Reuters

A group of some of the world’s most powerful oil producers is meeting Wednesday to discuss how much of an impact the new omicron Covid variant is likely to have on energy demand.

Led by Saudi Arabia, the Organization of the Petroleum Exporting Countries is scheduled to meet via videoconference from 1 p.m. London time. The 13-member group will be joined by non-OPEC allies such as Russia on Thursday.

There is little sign the broader group, often referred to as OPEC+, intends to change course from its current output plan…



Source cnbc.com

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